Anhui will withdraw 4,500 Yangtze vessels by 2014

Shanghai: Anhui provincial government said that within three years of 2011, some 4,500 vessels registered locally will be withdrawn on a compulsory basis as part of the Yangtze River vessel standardisation programme. A total of RMB700m will be used to compensate ship owners, giving an average compensation amount of RMB155,000 per vessel scrapped. An official ceremony to start the scheme was held recently at Wuhu Luyou shipyard.
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Source: Seatrade Asia